Exchange rate notification amended to update Turkish Lira import and export rupee equivalents under statutory customs authority
Amendment to the customs exchange rate schedule substitutes the entry at serial number 18 in Schedule I of Notification No.99/2020-CUSTOMS (N.T.), replacing the Turkish Lira rates with newly specified rupee equivalents for imported goods and exported goods, issued under the statutory powers of the Customs Act and effective from the stated operative date.

Late fee waiver for delayed FORM GSTR-10 filings permitted if returns filed within the specified September-December window.
Waiver of late fee applies to registered persons who failed to furnish returns in FORM GSTR-10 by the due date but furnish the return between 22nd September, 2020 and 31st December, 2020; the waiver covers only the portion of the late fee in excess of two hundred and fifty rupees. The measure is issued under section 128 to modify liabilities under section 47 and is deemed effective from 21st September, 2020.

Late fee waiver for delayed GSTR-4 filings within a specified compliance window; excess fees and zero-tax filings relieved.
The amendment waives the late fee payable under section 47-limitedly reducing excess fees and fully waiving fees where the total State tax payable is nil-for registered persons who failed to furnish returns in FORM GSTR-4 for the quarters July 2017 to March 2019 but who furnish those returns within the compliance window from 22nd September 2020 to 31st October 2020; the notification is effective from 21st September 2020.

Sovereign wealth fund exemption specified for MIC Redwood 1 subject to compliance, audit and ownership conditions for Indian investments.
MIC Redwood 1 RSC Limited, Abu Dhabi is specified as a specified person under clause (23FE) of section 10 of the Income tax Act for investments in India up to 31st March, 2030, subject to conditions including timely filing of returns, statutory audit and prescribed audit report, quarterly disclosure in Form II, maintenance of segmented accounts, continued government ownership and Abu Dhabi regulation, earnings credited to the government account, prohibition on borrowings for the purpose of making investments, asset vesting on dissolution, and no participation in day to day operations of investees.

E-invoice schema (FORM GST INV-1 v1.1) mandated for GST reporting; IRP-generated IRN required from 30 July 2020.
Substitutes FORM GST INV-01 by prescribing an e-invoice schema (Version 1.1) effective 30 July 2020, detailing field-level technical specifications, cardinality rules, mandatory/optional fields, and structured sections-header, supplier, recipient, item-level details, document totals, supporting documents and e-way bill details-with IRP-generated Invoice Reference Number (IRN) required for e-invoice validity.

GST notification amendment extends the specified coverage to include financial year 2019-20.
The Uttar Pradesh GST notification is amended to extend the scope of the specified composition or special procedure from financial years 2017-18 and 2018-19 to include financial year 2019-20 as well. The amendment is made under section 148 of the Uttar Pradesh Goods and Services Tax Act, 2017, on the recommendation of the Council, and substitutes the earlier reference in the opening paragraph of the notification dated 15 November 2019.

GST return filing due dates prescribed for small taxpayers furnishing FORM GSTR-1 on quarterly basis.
Registered persons having aggregate turnover of up to 1.5 crore rupees are required to follow a special procedure for furnishing outward supply details in FORM GSTR-1. The due dates are 13 January 2021 for the quarter October 2020 to December 2020 and 13 April 2021 for the quarter January 2021 to March 2021. The time limit for furnishing the details or return under sub-section (2) of section 38 for the months October 2020 to March 2021 is to be notified separately.

Satellite launch services under Uttar Pradesh GST are inserted with Nil rate entry and retrospective effect.
A further amendment to the Uttar Pradesh GST notification inserts a new entry for satellite launch services supplied by the Indian Space Research Organisation, Antrix Corporation Limited, or New Space India Limited, with Nil rate entries. The amendment is given retrospective effect from 16 October 2020.

GST notification amendment broadens the covered financial year period and extends the prescribed date for compliance.
Amendment to the Uttar Pradesh GST notification broadens the relevant period from a financial year to any preceding financial year from 2017-18 onwards and changes the prescribed date from 1st day of October to 1st day of December.

Extension of compliance deadlines under section 171: specified pandemic-period time limits consolidated to a single extended date.
Inserts a proviso extending time limits for completion or compliance of actions under Section 171 that fell between 20 March 2020 and 29 November 2020, where not met, up to 30 November 2020; the amendment is made to clause (i) of the first paragraph of the earlier notification and is deemed to have come into force from 1 September 2020.

Extension of due date for filing GSTR-4: statutory amendment postpones the filing deadline and applies retroactively to the original due date.
Extension of due date for filing Form GSTR-4 for the financial year 2019-2020 by substituting the earlier prescribed deadline with a later deadline under the Assam state GST notification; the amendment is issued under state GST statutory power and is deemed to have come into force retrospectively from the original deadline, thereby rendering the substituted deadline operative for compliance purposes.

Commencement of GST amendment: amendment to Section 50 of Assam GST Act notified effective 1 September 2020.
The Governor, exercising powers under sub section (3) of section 1 of the Assam GST Act, 2017, notifies that Sl. No. 10 of the Assam GST (Amendment) Act, 2019 shall come into force on 1 September 2020, thereby amending section 50 of the Assam GST Act, 2017; the notification is issued by the Finance (Taxation) Department and signed by the Commissioner & Secretary.

Aadhaar authentication rules for GST registration are tightened with new verification steps and deemed approval timelines.
The Assam Goods and Services Tax (Tenth Amendment) Rules, 2020 revise the registration procedure under the Assam GST Rules, 2017 by linking the date of application, notice issuance, and verification requirements to Aadhaar authentication. Applicants who opt for Aadhaar authentication are subject to an authentication-based filing date, while applicants who fail authentication or do not opt for it are subject to physical verification of the place of business or document verification in specified cases. The amended rules also prescribe time limits for officer action and provide that the application is deemed approved if no action is taken within the prescribed periods.

Import policy amendment: license-free import of potatoes from Bhutan temporarily permitted under amended foreign trade policy.
The Directorate General of Foreign Trade amended Schedule I (Import Policy) of the ITC (HS), 2017 to permit license-free import of potatoes under Exim code 07019000 when originating from Bhutan as an exception to the Restricted policy; the change is effected under Section 3 of the Foreign Trade (D&R) Act, 1992 and relevant Foreign Trade Policy provisions and applies for the period specified in the notification.

Code of Conduct compliance required for fund managers and dealers; quarterly self certification and best execution obligations imposed.
Amendments add PART A and PART B to the Fifth Schedule: PART A applies to AMCs and trustees; PART B prescribes a Code of Conduct for Fund Managers and Dealers that requires quarterly self certification, best execution obligations, conflict of interest safeguards, recording of investment decisions, transparent recorded communications during market hours, and prohibitions on market manipulative practices. The CEO must ensure systems to implement the code and report breaches to the board and trustees. AMCs may become proprietary trading members and self clearing members in the debt segment to clear and settle trades for their schemes.

Insider trading disclosure: time limit for voluntary filings clarified and disclosure requirements expanded under amended regulations.
The Regulations define timely voluntary disclosures as those submitted within three years from the date of the first alleged trade to the Board's receipt of the completed Voluntary Information Disclosure Form, and amend Schedule D to substitute "insider trading laws" for "securities laws", expand the information required about alleged violations (including details of securities, unpublished price sensitive information and its public disclosure date, circumstances of possession, and particulars of insiders and their trades), and require self certified copies of relevant documents.

Tax deadline extensions for Income-tax returns and audit reports extend filing dates for affected assessees nationwide.
Compliance deadlines under the Taxation and Other Laws (Relaxation and Amendment) Act, 2020 extend Income tax return filing for the assessment year commencing 1 April 2020: specified classes of assessees as per Explanation 2 are given an extended due date to the end of January 2021, other assessees to the end of December 2020; the fourth proviso applies mutatis mutandis. Filing of audit reports under the Income tax Act is extended to the end of December 2020.

Export prohibition on onion seeds bars all outbound shipments and removes transitional relief under trade policy.
Export of onion seeds is prohibited under the Foreign Trade Policy with immediate effect; the item's ITC (HS) classification status has been revised from restricted to prohibited, and the FTP transitional arrangement provision is expressly excluded so no transitional relief applies.

Exemption for Patient Assistance Programmes expands to include specified PAPs and named pharmaceutical manufacturers under customs rules.
Amendment to the customs exemption notification substitutes table entries to add specified Patient Assistance Programmes and their pharmaceutical manufacturers, thereby extending the existing exemption for imported medicines to the listed PAPs and named companies under the powers conferred by section 25(1) of the Customs Act, 1962.

SGST wording correction replaces "Central" with "State" in a prior notification proviso.
A corrigendum amends a prior Uttar Pradesh SGST notification by replacing the word "Central" with "State" in the third row of the proviso. The change is confined to wording correction in the earlier notification and does not add any further substantive modification.